Santos finds significant gas resource off the coast of Western Australia

Santos has discovered liquids-rich gas off the coast of Western Australia after a drilling campaign was completed at its wholly-owned Corvus-2 well.

The company’s managing director Kevin Gallagher said Corvus-2 had delivered a fantastic result that opened up additional exploration opportunities in the region.

“It is particularly exciting to have realised a higher liquids content and significantly bigger resource volume than we expected. Corvus could be tied back to either our Devil Creek or Varanus Island gas plants… and extend (the) plateau well into the 2030s,” he said.

Corvus-2 is in 63 metres of water and about 28 km from the Reindeer platform, which delivers gas to Devil Creek and about 62 km from a Varanus Island tie-in point.

“Based on limited information, our initial estimate is a 2.5 trillion ft³ gas and 25 million bbls condensate resource,” commented Wood Mackenzie senior analyst Daniel Toleman.

“This will be the largest gas discovery in the Carnarvon basin since the Satyr-4 exploration well drilled by Chevron in 2009.

“Santos’ stated 254 metres net pay is indicative of a very large gas resource in place, but recoverable volumes will be dependant on the size of the structure, area extent and sand thickness,” he added.

@AusBNOnline